spatial
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Post by spatial on Mar 3, 2023 7:54:18 GMT 10
Default is still a possibility, but debt is about to blow up.. The Accelerating Countdown to Armageddon
 dailyreckoning.com/the-accelerating-countdown-to-armageddon/The U.S. debt-to-GDP ratio is at the highest level in history (about 125%), with the exception of the immediate aftermath of the Second World War. At least in 1945, the U.S. had won the war and our economy dominated world output and production. Today, we have the debt without the global dominance. The U.S. has always been willing to increase debt to fight and win a war, but the debt was promptly scaled down and contained once the war was over. Today, there is no war comparable to the great wars of American history (though there are many who’d like to drag us into one in Ukraine), and yet the debt keeps growing. We’re accumulating debt at a substantially greater rate than we’re growing the economy. Basically, the United States is going broke. I don’t say that to be hyperbolic. I’m not looking to scare people. It’s just an honest assessment, based on the numbers. Right now, the United States is roughly $31.5 trillion in debt. Now, a $31.6 trillion debt would be fine if we had a $50 trillion economy. The debt-to-GDP ratio in that example would be manageable. But we don’t have a $50 trillion economy. We have about a $25 trillion economy, which means our debt is bigger than our economy. When is the debt-to-GDP ratio too high? When does a country reach the point that it either turns things around or reaches the point of no return? The Danger ZoneEconomists Ken Rogoff and Carmen Reinhart carried out a long historical survey going back 800 years, looking at individual countries, or empires in some cases, that have gone broke or defaulted on their debt. They put the danger zone at a debt-to-GDP ratio o f 90%. Once it reaches 90%, they found, a turning point arrives… At that point, a dollar of debt yields less than a dollar of output. Debt becomes an actual drag on growth. Again the current U.S. debt-to-GDP ratio is about 125%. |
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malewithatail
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Post by malewithatail on Mar 4, 2023 8:12:05 GMT 10
It can't be stopped, the inevitable end is a economic collapse, when ? Who knows, but the longer the economy is on life support, the worse it will be. www.armstrongeconomics.com/Then comes a war, probably nuclear, to cover their tracks. Rules that guys wish girls knew. 19) We are not mind readers and never will be. Our lack of mind reading ability is not proof of how little we care for you. |
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spatial
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Post by spatial on Mar 5, 2023 7:03:30 GMT 10
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malewithatail
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Post by malewithatail on Mar 5, 2023 7:39:04 GMT 10
That's why we prep, bring it on, keep kicking the can down the road guys, we are ready-almost ! We do a quick "are we safe ?" check every day of our preps, its simple, just go over in your mind the preps you are doing today and relate them to what you have already done. Things like a quick think about the amount of fuel you have stored, any issues with vital machinery, such as the tractor that will be needed WTSHTF for survival food growing for your group, and every week or so a physical check of the water tanks, fuel shed, ammo supply, seed bank, check infrastructure to make sure no rips have happened in the shade-house, or leaks in the firewood shed roof, comms, all simple things that can contribute to your peace of mind that you are in a good position if it all falls over tomorrow. Same when shopping, ask yourself if this was the last trip to town you could do, what would be essential to buy, and get it, then store it with your preps. I think we are in a slow collapse that will accelerate as the debt ceiling gets closer, and at the last minute, the ceiling will be raised, putting off the collapse for another 6 months, but making it 10 X worse when it finally happens. www.businessinsider.com/when-will-us-reach-debt-ceiling-deadline-congress-negotiating-default-2023-3Read the bit about the trillion dollar coin minting idea. These people are insane. Four months away from the debt ceiling, "Defaulting on our debt is not an option," McCarthy said during remarks last month. "But neither is a future of higher taxes, higher interest rates and an economy that doesn't work for working Americans." The two are eventually mutually exclusive, you wont be able o have both and when the general population realize this, if they ever do, riots will occur. "If nothing happens, and nobody blinks, the country will face its biggest financial crisis in history. If the US defaults on its debt, the stock market would crash. Millions would likely lose their jobs. US Treasury bonds, which are key assets in global finance, would suddenly be plunged into chaos." www.businessinsider.com/what-happens-if-republicans-dont-raise-debt-ceiling-limit-crisis-2023-1The above gives added incentive for us to prep more. Henceforth, I will not judge anyone by his or her appearance because I do not know their story |
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spatial
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Post by spatial on Mar 8, 2023 15:48:30 GMT 10
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Post by Stealth on Mar 8, 2023 17:29:02 GMT 10
It's interesting. I've made purchases from the Perth mint online in the past and they've been calling me regularly (every couple of months since about August last year) to get my ID reviewed because they're redoing everyone's ID. I have no intentions of making any purchases any time soon so I haven't exactly been speedy on getting it sent in but if I were planning to make a purchase in the future I'd have to reidentify again.
I only did it originally because I couldn't make purchases in person so *shrug*. If I wanted to, I could make a purchase over the counter if I travelled into Perth. BUT it used to be that you only had to provide ID if you were purchasing over 5k worth. The last time we went in, I was looking to get one of the newer silver 1oz Dragon. Very pretty! But also providing ID for a $45 bullion coin was frustrating. It wasn't like I was trying to build my own empire or anything!
I asked if you had to provide ID for a 1oz collectors coin from the front counter and the answer was no. Baffling, when it's the same amount of silver but three times the price.
That being said I don't know what the rules and regs are if you purchase from a local coin/collector dealer. I know that they uphold the $5k ID rule but unsure about purchases under that for bullion. Might be worth investigating if anyone's looking to buy some as part of a diversified portfolio.
Shame I've given all the bullion away that I owned as gifts to friends and family over the years really, isn't it.😅
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tactile
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Post by tactile on Mar 8, 2023 17:39:02 GMT 10
Where I buy here in Melbourne, you buy whatever you want - under $5k and no ID. Bullion, coins, gold, silver...doesn't matter.
China was flogging gold plated crap to the world not long ago and nearly all counterfeit stuff comes from there so the Perth Mint thing is a bit meh to me.
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Post by Joey on Mar 8, 2023 17:48:40 GMT 10
Didn't the Perth mint just get in trouble for selling like 20k of gold to an ex-bikie boss on his credit card?
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tactile
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Post by tactile on Mar 8, 2023 20:09:50 GMT 10
Didn't the Perth mint just get in trouble for selling like 20k of gold to an ex-bikie boss on his credit card? Yep. PR for them hasn't been good recently. They have had other issues in the last year or two as well. |
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Post by Stealth on Apr 20, 2023 13:39:50 GMT 10
My take is, "that's not news" - ten bob says they'll argue about it for a few months, maybe have another govt shutdown, then just raise the debt ceiling anyway and kick the can down the road... till inflation gets them. Credit where credit's due, you called it. Republican McCarthy unveils plan to lift US debt ceiling, cut spending - Pretty clear indication on what the plan is for the future. They do acknowledge that the plan will be knocked back and this just gives them something to 'negotiate' with. I'll be watching what happens with those negotiations pretty closely because like it or not it's going to impact on the global markets. We'll feel the effects no matter how much we're prepared for it. Even if those effects are friends and family struggling. |
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Post by Stealth on May 11, 2023 13:38:55 GMT 10
Uh... America? Gettin' AWFULLY close to that June deadline and still no plan on lifting the ceiling? Yellen warns of U.S. ‘economic chaos’ if debt limit not raisedIt's beginning to look like this isn't going to be made to go away. Further news states that a meeting just recently finished where they didn't make any progress. Still smells of "We told you this was coming, you can't blame us!". |
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frostbite
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Post by frostbite on May 11, 2023 15:56:19 GMT 10
The USA has been in collapse for a while already. Their economy is stuffed, they are basically bankrupt, their military is falling apart, they are being invaded by illegal immigrants, Woke culture is destroying the fabric of their society, mass shootings every few days, crumbling infrastructure, on the verge of civil war. What a shytehole.
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malewithatail
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Post by malewithatail on May 11, 2023 16:56:57 GMT 10
The elite will be making sure it comes to a city near you as well, soon. The world has to crashed so it can be rebuilt in their image.
Got an order in for some more bee supplies, foundation wax etc, even though I have 200 plus sheets, like ammo, more is better.
As soon as I sell some high end amps, and antique computers, I will be getting some more ammo as well as my nite thermal gear.
If it takes infinite energy to accelerate something to the speed of light, how come the 2 D size batteries in my torch can, or are they more powerful than I thought ?
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Post by milspec on May 12, 2023 7:35:50 GMT 10
IMHO the republicans are playing brinkmanship with the democrats in order to get their way with future spending constraints. Neither side will collapse the economy just yet, there is still too much wealth to steal from people and businesses to send to the owners of the big banks and fund managers. Once the US CBDC is ready I suspect they'll happily initiate the next economic collapse/pandemic/cyber crisis to facilitate its implementation.
As a side note don't you love how how the US Feberal Reserve (of which JP Morgan is a major owner) decides to sell First National bank to JP Morgan for a bargain basement price and to make it attractive for JP Morgan they'll allocate $54B in operating funding (from tax payers) and spread the $114B losses across all taxpayers so that JP Morgan can get the bank running profitably again and of course the profits subsequently arising from the taxpayers $160+B outlay will not go to taxpayers they will be private to JP Morgan.
Socialise the losses, privatise the gains .... usury at its finest. Little wonder the practise of money lending for profit was banned in Christianity & Islam for so long. Based on where corporate banking had led us today I wish Usury had remained an illegal practise.
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malewithatail
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Post by malewithatail on May 12, 2023 8:00:43 GMT 10
These fools of the NWO don't realize that the money they are stealing from us will be worthless after the collapse. Knowledge will be power. As I told a rich neighbor some time ago, you cant eat share certificates, now it will come to pass.
Lack of planning on your part does not constitute an emergency on mine.
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Post by milspec on May 12, 2023 9:42:32 GMT 10
These fools of the NWO don't realize that the money they are stealing from us will be worthless after the collapse. Knowledge will be power. As I told a rich neighbor some time ago, you cant eat share certificates, now it will come to pass. Lack of planning on your part does not constitute an emergency on mine. I'm pretty sure your average wealthy person isnt the real problem. The corporate bankers are the real problem and you can rest assured that their wealth is buying up the gold for when the fiat system they run is allowed to collapse. Then their circle will trade in a gold derivatives while 99% of the worlds surviving minions deal with carbon credits, electricity rations, mrna laced lab food and CBDCs. |
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spatial
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Post by spatial on May 12, 2023 12:45:06 GMT 10
More US banks got into trouble last night, Pakistan also nearing default...
I think they are kicking the can down the road to keep the fiat system alive as long as possible, but in the end reality and history will win.
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frostbite
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Post by frostbite on May 12, 2023 12:59:46 GMT 10
Stuff fiat. I picked up over$2k worth of pm’s yesterday, in the form of a taipan pump action rifle.
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Post by Stealth on May 12, 2023 13:16:59 GMT 10
Socialise the losses, privatise the gains .... usury at its finest. Little wonder the practise of money lending for profit was banned in Christianity & Islam for so long. Based on where corporate banking had led us today I wish Usury had remained an illegal practise. SO MUCH OF THIS. But I don't know about the 'more to steal' thing. I mean it's absolutely true that there IS more to steal, but I think those in the know have braced themselves for the collapse of the economy at this point. The theft can just as easily be achieved by the wholesale purchase of precious metals to sell up and buy bargain basement price properties when the commercial property market falls apart (as has already started). Probably even more easily, as it's less likely to be obvious to the huddled masses. Can we for a moment consider (and this has only just occurred to me, not enough coffee clearly) Trump getting back into the seat. The stage is already set, the banks are ready to collapse, inflation is out of control, the commercial property market in the US is in the same position the sub-prime mortgage market was in back in 2008... Who better to blame the absolute and utter collapse of the American system on than a six-time bankrupt businessman? You can't blame the political system that way, he was never a politician to begin with after all! Therefore, it's your fault. You the people, chose for him to be in the seat and that this happened under his rule. You chose for him to be there. *shudder*. I'm not saying I think that's definitely what's being set up but I would say with absolute certainty that that's how it'll be played if he DOES get back in. You've got a point about the CBDC portion that I hadn't considered. It would absolutely benefit for them to have that in place beforehand. But at the same time, I suspect that they'll treat CBDCs as the 'inflation dart that will save us all'. I don't think it'll become a major playing card until people are really feeling the sting and are desperately searching for something that might save the day. What's easier than releasing something as a solution to a major problem instead of an optional thing that people might have more time to scrutinise if they're not under pressure? |
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spatial
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Post by spatial on May 12, 2023 13:26:01 GMT 10
Stuff fiat. I picked up over$2k worth of pm’s yesterday, in the form of a taipan pump action rifle. Looks like a game changer of rife. It would be out of my licence category. |
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